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GC Asia
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Newly launched Axa fund targets growing SRT market
Axa Investment Managers has launched its eighth investment fund focused on investments in significant risk transfer securitizations, citing a growing market as more banks enter the sector.
19 Feb 2020 -
STS is burden enough without shoehorning in ESG criteria
With the environmental, social and governance revolution well under way, attention has turned to the securitization market after recent deals pushed the issue to the top of the agenda. There has been talk of retrofitting the ‘simple, transparent and standardised’ (STS) regulatory framework with a ‘green’ or ‘ESG’ category, but regulators should think twice before conflating both themes.
18 Feb 2020 -
BMW prepares first auto loan ABS of 2020
BMW Automotive Finance is readying a Rmb8bn ($1.15bn) dual-tranche auto loan ABS transaction. The deal, to be sold on February 20, will be the first auto ABS outing in the Chinese market since the Lunar New Year.
14 Feb 2020 -
Hybrid subprime credit card lender preps ABS
Fair Square Financial is issuing a subprime credit card ABS backed by loans originated through a bank partnership, a feature usually seen among marketplace lenders.
13 Feb 2020 -
Swissies on fire as banks max out
BBVA and BNP Paribas raised Swiss franc bonds on Thursday, following a week of strong issuance from a rich variety of borrowers in the market.
13 Feb 2020 -
UK fiscal splurge cemented as ‘last Mohican’ is ousted
The ousting of Sajid Javid as the UK's chancellor of the exchequer has been interpreted in financial markets as a power grab by prime minister Boris Johnson. Javid's removal is likely to strengthen the government’s bias towards populist economics, “rewriting the Treasury’s fiscal rules”, according to one investor.
13 Feb 2020 -
Pass-thrus, investor deals to boost online loan ABS
Issuance of ABS backed by marketplace loans is expected to get a boost this year, supported by a higher volume of pass-through certificates and investor-sponsored deals, according to Kroll Bond Rating Agency.
12 Feb 2020 -
Hewlett Packard returns with IT equipment ABS
Hewlett Packard Enterprise is readying its second securitization backed by loans and leases secured by IT equipment. Boosted by scarcity value, sources expect the small ticket equipment to offer better value than all other equipment asset classes this year.
11 Feb 2020 -
Sustainability: more stick, less carrot
Sustainable finance players are enthusiastic about regulation, which they expect to bring clarity and order to the market. It may — though when the new EU rules are implemented they are likely to irk participants more than they expect. But what would be really effective are direct actions that bypass finance.
11 Feb 2020 -
Pandemic bond slips as coronavirus spreads
The value of the riskier tranche of the World Bank’s pandemic bond has been discounted — but not by very much — as the coronavirus outbreak infects more people outside of China and therefore comes closer to triggering a payout from the notes.
10 Feb 2020
